Private investment projects taking place in the coastal area of El Salvador will be supplemented by $50 million in additional projects.
Wednesday, October 31, 2012
An article in Laprensagrafica.com quotes the U.S. ambassador in El Salvador, Mary Carmen Aponte, reaffirming U.S. support through the Millennium Fund.
The ambassador announced yesterday that they "had an approval of a second donation of Millennium funds, this would be accompanied by $50 million to support with additional works investment projects implemented by private companies. 'The public-private partnerships will be very important and FOMILENIO II will have a component of $50 million. Once received the FOMILENIO II the fund will be available to help private enterprise '. "
Two weeks ago the government called for entrepreneurs interested in investing (large companies, SMEs associated companies or even partnering with municipalities) in the coastal area to submit their projects which require some type of public goods (such as access roads ) or semipublic (such as training) in order to be developed. The proposals will be received by PROESA until 1 March 2013.
The government of El Salvador has changed his mind regarding a PPP for the expansion of the International Airport, prompting the withdrawal of technical support for the project from the US.
According to the Technical Secretary of the Presidency, Roberto Lorenzana, the argument to dismiss the PPP is based on the fact that following this business model would only bring the State rental income for 25 years, while the airport currently receives $40 million a year in net income.
The United States will spend $277 million on investment in public infrastructure, with an additional contribution from the Salvadoran government of $88 million.
From a statement issued by The Millenium Challenge Corporation (MCC):
Washington, D.C.—The Millennium Challenge Corporation signed a $277 million compact with the Government of El Salvador, the second-largest investment in Central America by the U.S.
The infrastructure and road network built with funding from the Millennium Challenge Corporation should be the focus of new development projects in the area.
An article in ElSalvador.com reports that Jose Angel Quiros, former executive director of Fomilenio, said "I have no information on new projects in the north, but without a doubt thought must be given to how to maximize that infrastructure and road network for the country's productive sectors ... the region's strategic programs north of the country, carried out with the first funds from the Millennium Challenge Corporation (MCC) between 2009 and 2012, must be diversified and enhanced with new works. "
Although still lacking formal approval for Fomilenio II by the board of the Millennium Challenge Corporation, $ 2.9 million has already been authorized for its offices.
The Millennium Challenge Corporation (MCC) has authorized giving El Salvador $2.9 million for setting up the Fomilenio II offices.
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